Should I Sale AS IS?
I bought an older home left vacant for a year for which is in a rural location on 1.7 acres of land plus has a 3 year old 3-car garage. It's the only house on the block. Problem is I bought low, but have got 16,000 still to pay it off plus about 6000 in repairs so far. It doesn't have enough inside work to let an appraisor pass a bank loan for someone to purchase it. I suppose I'll continue to fix it up but would love to just sell as is...what is the best way for me
Paint the outside and clean up the yard and put an ad in your local paper:
"Handyman Special"
Your phone will blow up and hopefully you can sell it to someone and make some profit.
The other thing I would consider would be to do a home improvement loan and
complete rehab and sell it for the big payday. If you cant get a bank to loan you money on it, maybe you can get some private financing.
Whatever the case, I would go for option number one and do minimal work to it and sell it as-is.
Good Luck,
Jeffery Adam
P.S.- A friend of mine 3 years ago asked me the same question. I told him to clean up the yard, paint the outside and sell it as-is. He decided to do a major rehab. Guess what? 9 month's later and
25k later he sold it made a profit of only
7k. He told me he wish he would of taken my advice. What is your time worth? Wouldn't you rather get your money and move on to the next deal?
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